James Lloyd, in his interactions with TechCrunch said that he expects Amazon to venture into fintech – payments, lending as well as credit scoring.  Speaking at the TechCrunch and TechNode event at Shenzen, China, James Lloyd, who is fintech leader tie Ernst and Young said that he sees a parallel between Amazon and Ant Financial (previously “AliPay) and Amazon will get into everything that it expects will facilitate its ecosystem and leverage its data points and reach.

While expressing concern over why Amazon did not expand its e-commerce segment much more in Asia by venturing late into South East Asia, James said that with Amazon announcing that it had lent out over $1 billion in small loans, the company will double its exposure in this space.  With the amount of data the tech giant has, it can closely estimate what was needed in three months inventory.

Sharing the platform with James, was Jack Zhang, the founder of Airwallex a transfer payments company for businesses. Jack was not very enthusiastic om bitcoin saying that this form of digital currency and the volatility associated with it will cause liquidity issues and this cannot be the future of cross border payments.

Source: TechCrunch